Florida Recovery Guidelines
refers to the recovery of the following range of assets,
including but not limited to: motor vehicles, mobile homes,
motorboats, aircraft, personal watercraft, all-terrain vehicles, farm
and industrial equipment (to include tractors, road rollers, cranes,
forklifts, backhoes, bulldozers and other machine-powered
vehicles) that are used to manufacture goods or to provide services.
AGENT", an individual who is authorized by the legal owner, lien
holder, or lessor to recover, or to collect money payment in lieu of
recovery of, that which has been sold or leased under a security
agreement that contains a repossession clause. A repossession is
complete when a licensed recovery agent is in control, custody, and
possession of such assets that is listed above.
"REPOSSESSION", whether voluntary or involuntary, requires the
services of a licensed recovery agent or intern.
Chapter 493 does
not recognize any difference between voluntary or involuntary
"IN HOUSE RECOVERY AGENT", individuals solely, exclusively, and
regularly employed by a single company who perform recovery work in
connection with that company's business have been exempt from licensing
requirements. Senate Bill 1438 has eliminated this exemption.
This means to recover collateral in Florida you must be employed by a
"PERSONAL PROPERTY", recovery agents are personally responsible for
the complete and accurate inventory and storage of all personal
effects and property found in any repossessed vehicle, mobile home
The terms "personal effects" and "personal property" in the context
of a repossession means personal items found in or on a repossessed
vehicle, mobile home or motorboat which were not a part of the
repossessed unit at the time of purchase or lease and which have not
been installed in or attached to the repossessed unit.
Motor vehicle license tags issued to the debtor are the personal
property of the debtor and must be inventoried, stored and returned
the same as all other personal property.
If a debtor or his lawful designee appears to claim personal
property prior to its disposal, such property must be returned upon
the payment of any reasonably incurred expenses for inventory and
Florida State Statues on line
If you desire
any further information, please contact us
or toll free 1-800-858-3869.